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Nov 29, 2012
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[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after world war ii. outside of the post-world war ii era, the on than the up deficit has fallen faster is when the economy we left in 1937, during the great depression into -- [inaudible] u.s. district offers, testing the speed limit of the fiscal consolidation does and backfire. >> i really go back to simpson-bowles. i think they had it right put. repeat, everything on the table. not only taxes, but spending cuts and entitlement reform. let me speak about each of them. first when it comes to revenue, so many people in the business community and outside have talked about simpson-bowl
[inaudible] with more trillion dollar deficits forecast in years to come. despite the extraordinary steps to do with a great recession, deficit as a share of the economy has actually decreased every year for the last three years. 10% of gdp in 2009, 7% gdp today. the source is not the democratic national committee, but "investor's business daily." they said believe that or not, the federal deficits smaller over the past three years and it hasn't any stretch since demobilization after...
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Nov 29, 2012
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without adding a dime to the deficit, by the way. in fact, if done right, tax reform will increase revenues by spurring growth, job creation and therefore bigger tax receipts. tax reform is both a fiscal and competitive necessity for our country. it has been more than 25 years since we substantially reformed the tax code. twice as long, about 50 years since we did a bottom-up review of our international tax laws. the world has changed a lot in that time period and yet america has not kept up. the underlying assumptions in our tax code are frankly out of step with the complexities of today's global economy. this is especially evident in our corporate tax code. on the domestic side of our corporate tax code, the u.s. has become the highest tax rate country among all the developed countries in the world. so canada just lowered their rate from 16.5% to 15%. our rate is 39.2% when you combine the state and federal burden. federal burden 35%. state burden closer to 5%, 6%. so right now, the average among all the developed countries in the
without adding a dime to the deficit, by the way. in fact, if done right, tax reform will increase revenues by spurring growth, job creation and therefore bigger tax receipts. tax reform is both a fiscal and competitive necessity for our country. it has been more than 25 years since we substantially reformed the tax code. twice as long, about 50 years since we did a bottom-up review of our international tax laws. the world has changed a lot in that time period and yet america has not kept up....
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Nov 25, 2012
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it gives the persistent trade deficit. we used to not have one and now we do, and it is a big drag on the economy. the trade deficit is significantly down. we have had some -- the u.s. has actually become more competitive, but that's a front on which we need to work. there is a -- the trouble is the political debate has not kept up with the reality. at it all about china. actually, china is no longer the core of that. it's a much broader set of countries. those need to be work on. i hope the next president, instead of not just crude china bashing but what to do to have a world that is no -- we don't have everybody trying to run a trade surplus, which the germans believe is possible but the rest of us don't. then the issue of trade and income inequality, and a lot of -- used to be we traded with countries that were similar. and that presumably had relatively effect on income. if you make -- if you send auto parts to canada and conditioned sends assembled cars back to the ute, that knowing going to make a difference. that it
it gives the persistent trade deficit. we used to not have one and now we do, and it is a big drag on the economy. the trade deficit is significantly down. we have had some -- the u.s. has actually become more competitive, but that's a front on which we need to work. there is a -- the trouble is the political debate has not kept up with the reality. at it all about china. actually, china is no longer the core of that. it's a much broader set of countries. those need to be work on. i hope the...
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Nov 28, 2012
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we were still running a deficit, a deficit of about $2 billion a year. for fiscal year 2012, which recently ended, total federal revenue was $2.45 trillion, basically back to the pre-recession levels. but total federal spending was above $3.5 trillion. so what happened? well, tax revenues back to where it was before the recession, but federal spending is now $800 billion, almost $1 trillion higher than it was just five years ago, in fiscal year 2007. it's no wonder the federal spending and our national debt will continue to grow for the forseeable future. according to the congressional budget office, mandatory spending, which kpraoeuplss about 6 -- comprises about 60% of total federal spending in fiscal year 2012 is going to continue to grow. if you look at what's driving that, medicare, medicaid, social security. those programs alone represent over 40% of federal spending currently. spending on these programs is projected to grow at an unsustainable rate, and we cannot, madam president, simply raise taxes to pay for all this new spending. that's the pro
we were still running a deficit, a deficit of about $2 billion a year. for fiscal year 2012, which recently ended, total federal revenue was $2.45 trillion, basically back to the pre-recession levels. but total federal spending was above $3.5 trillion. so what happened? well, tax revenues back to where it was before the recession, but federal spending is now $800 billion, almost $1 trillion higher than it was just five years ago, in fiscal year 2007. it's no wonder the federal spending and our...
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Nov 26, 2012
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no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325 -- 327 electoral votes, overwhelming. even though they did everything they could to stop him from being reelected. everyone knows what a failure this congress has been because of what the senate has done and that's nothing. nothing. no job creation. they didn't want that. it would -- if -- if we had had some ability to create jobs, it would have helped obama, it would have helped the country. but, no, that wasn't what they wanted to do. and a terrible day for them last year was the -- several months ago, the supreme cour
no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325...
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Nov 25, 2012
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what would have happened if we hadn't allowed the deficit to increase and when you try to tear -- do the herbert hoover kind of policy slash, cut back expenditures and revenue went down. we did that experiment. the ecb and europe have been forcing out on greece. we saw two things about that. one, it was led to historic oppression and the other was the deficit doesn't get down as much as anybody hopes. i am surprised that they are surprised. because it was perfectly anticipated that they would fail. >> thank you for the opportunity for asking this question. my question is on a different topic, but it relates to the kind of economic ideas that some u.s. groups have been promoting abroad. i'm an international student from georgia and the summer i went back and went to an economics camp which surprisingly was funded by the tea party organization and they were promoting libertarianism among georgia students. there has been an emergence of orthodox economists back home, which has led to deregulation, less taxes but also an increase of inequality. so my question is, how do you discuss alter
what would have happened if we hadn't allowed the deficit to increase and when you try to tear -- do the herbert hoover kind of policy slash, cut back expenditures and revenue went down. we did that experiment. the ecb and europe have been forcing out on greece. we saw two things about that. one, it was led to historic oppression and the other was the deficit doesn't get down as much as anybody hopes. i am surprised that they are surprised. because it was perfectly anticipated that they would...
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Nov 22, 2012
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bond yields will rise in the cost of financing current deficits will increase. there won't be much cash available to move into government investments for the future. the bridges research in the basic sciences, public schools better equipped for the 21st century and so on. it will mean less spending on technology, less capital available to current listing companies and less capital for ashburn or second to go public on our market. the decline in american ingenuity would be a consequence and over time would be a decline of our position in the world. as all prices adjust, market forces could reach a point where investors refuse to buy u.s. treasury bonds. we see investors to the potential of the realizations now to risk. in 2007, over $1 trillion have flowed in to bomb an even greater amount out of the lease. a lack of clarity, on equity capital gains and dividends act as a deterrent or equity investment. when trying dollars moving into fixed income were fixed income is basically pain zero. that shows a fundamental aversion to risk, which is new to our society and
bond yields will rise in the cost of financing current deficits will increase. there won't be much cash available to move into government investments for the future. the bridges research in the basic sciences, public schools better equipped for the 21st century and so on. it will mean less spending on technology, less capital available to current listing companies and less capital for ashburn or second to go public on our market. the decline in american ingenuity would be a consequence and over...
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Nov 28, 2012
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madam president, there are ways to do deficit reduction which are fair. everybody has got to understand we have cut approximately $1 trillion in benefits already. so when we talk about $4 trillion in deficit reduction, $1 trillion has already taken place. second of all, at a time when the wealthiest people are doing phenomenally well, when we have growing wealth and income in america, we have to repeal bush's tax breaks for people making $250,000 or more. that's another $1 trillion. we have got to appreciate the fact that one out of four corporations in america doesn't pay a nickel in taxes. we can bring in significant amounts of revenue through tax reform which asks corporations to start paying their fair share of taxes. we're losing $100 billion a year because corporations and the wealthy are stark their money in the cayman -- are stashing their money in the cayman islands and other havens. defense spending tripled since 1997. we're now spending almost as much as the rest of the world combined. let's take a serious look at defense spending. madam presid
madam president, there are ways to do deficit reduction which are fair. everybody has got to understand we have cut approximately $1 trillion in benefits already. so when we talk about $4 trillion in deficit reduction, $1 trillion has already taken place. second of all, at a time when the wealthiest people are doing phenomenally well, when we have growing wealth and income in america, we have to repeal bush's tax breaks for people making $250,000 or more. that's another $1 trillion. we have got...
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Nov 25, 2012
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if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the book, what i attempt to do is take people to the presidents and leaders and tell you exactly because of the luxury of time and my publisher, simon & schuster, i declined to get the meeting notes to get the exact detail to interview president obama and speaker boehner and the key players in this. i just want to take one quick snapshot from what happened that we didn't know about, which is critical. when the cops pull up less when the president was upset, he called the congressional leaders on a saturday morning at 11:00 o'clock a.m. the democratic and republican leaders were trying to work out their ow
if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the...
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Nov 21, 2012
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because we have an incredible plan to get on top of debt and deficit, to show how we will pay our way in the world we have record low interest rates. low interest rates described by the shatter chancellor as a key test of economic credibility. >> ed miller band? >> can i start by joining the prime minister in paying tribute to walter berry of first battalion richmond of scotland. he should yet most courage and bravery and all our thoughts and condolences are for his family and friends. can also express my deep or about loss of life in israel and gaza in recent days including the latest polling terrorist attack on a bus in tel aviv. there's widespread support on all sides of the house for an immediate and durable cease-fire being agreed in israel and gaza. will the prime minister set out in his view their main barriers to the cease-fire agreement now being reached? >> i agree with right hon. gentleman about the appalling news this morning about the terrorist attack on a bus in tel leave and also express our deep concern at the intolerable situation in southern israel and the grave loss
because we have an incredible plan to get on top of debt and deficit, to show how we will pay our way in the world we have record low interest rates. low interest rates described by the shatter chancellor as a key test of economic credibility. >> ed miller band? >> can i start by joining the prime minister in paying tribute to walter berry of first battalion richmond of scotland. he should yet most courage and bravery and all our thoughts and condolences are for his family and...
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Nov 27, 2012
11/12
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no credible deficit-reduction plan we've seen over the past few years excludes real cuts. and if we want to prevent this crisis, democrats need to be as serious about cutting spending as they are about spending. it's that simple. and by the way this is an approach americans overwhelmingly support. according it a recent a.p. poll, voters prefer spending cuts to tax hikes, 62% to 29%, a more thank two-to-one margin. there is a reason for this. the american people aren't stupid. they know the problem with washington isn't that it taxes too little but that it spends too much. the only reason we're talk about a many looing fisca looming fisw is because the democrats spend the last years creating it. i want to talk about how we got into this mess in the first place because amidst all the talks about plans and proposals, it's easy to forget that we didn't get here by accident. we got here because washington democrats, from the president on down, have done two things exceedingly well over the past four years: spend other people's money and kick the can down the road. spend other p
no credible deficit-reduction plan we've seen over the past few years excludes real cuts. and if we want to prevent this crisis, democrats need to be as serious about cutting spending as they are about spending. it's that simple. and by the way this is an approach americans overwhelmingly support. according it a recent a.p. poll, voters prefer spending cuts to tax hikes, 62% to 29%, a more thank two-to-one margin. there is a reason for this. the american people aren't stupid. they know the...
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Nov 28, 2012
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we have a path to energy independence in america that is $200 billion deficit right now. it is the bridge to renewable energy, renewable energy will take a long time. if we can move to gas we get tremendous benefits in terms of cleaner energy on the way to renewable energy future. if we could get those things done, steve, this would be transformational for our economy but we have not been able to act on these things even though i said earlier there is wide bipartisan -- >> thank you. let me just try to poke holes in this. if we rollback time to just before the financial crisis you look at the u.s. deposition. douglas holtz-eakin was out there talking about that already. and john mccain and others have been but it is much worse today but if you look at the deck in a different way, look at private sector debt, the fact, forget government debt. before the financial crisis private-sector debt was 160% of gdp in the united states and despite averaging, back to 160% of gdp we are still in crisis mode, you had structural corruption between regulators and financial institutions a
we have a path to energy independence in america that is $200 billion deficit right now. it is the bridge to renewable energy, renewable energy will take a long time. if we can move to gas we get tremendous benefits in terms of cleaner energy on the way to renewable energy future. if we could get those things done, steve, this would be transformational for our economy but we have not been able to act on these things even though i said earlier there is wide bipartisan -- >> thank you. let...
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Nov 24, 2012
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some believe he should have supported and promoted simpson-bowles deficit reduction proposal. he has not bmeetin rtele to significantly expand economic opportunity. how has obamaarased the tobsls leadership? he attempts to communicate his vision and proposal but he has appeared so often on television that overeublosure was occurrinr he is a capable public speaker but his speeches lack the spirit he showed during his first campaign. he seems to lacversthe coficunication skills of fdr, reagan or clinton. obama frequen-by comes across as a teacher or a motivator and not a motivator. he fails frequen-by to excite and motivate the broad public he must reach though he is not doing badly in the current campaign. there is a recent article in a sunday edition of the newshorves times entitled to obama plays to win in politics and everything else. the author paints a picture of obama that gives greater insight into him and how he might function as a second term president. i am quoting from that article. four years ago barack obama seemed as mps he might be a deliberate professor of a lea
some believe he should have supported and promoted simpson-bowles deficit reduction proposal. he has not bmeetin rtele to significantly expand economic opportunity. how has obamaarased the tobsls leadership? he attempts to communicate his vision and proposal but he has appeared so often on television that overeublosure was occurrinr he is a capable public speaker but his speeches lack the spirit he showed during his first campaign. he seems to lacversthe coficunication skills of fdr, reagan or...
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Nov 21, 2012
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we have a trillion dollar deficit, two-thirds of dodd-frank hasn't been written, etc., etc.. i haven't heard any solutions i think you are right you what to publish online. i think the transparency is great. but we have a real situation. this fiscal cliff especially when added to what's happening. what can be done positively to get in the deadlock where you stand up the taxes. >> yes we have a huge problem. a 5 trillion-dollar debt. >> we keep talking about the fiscal recovery being different. you go back into the century and they all recouped a lot faster than this one. obama and hoover both reacted in the same way to the recession which was more spending, higher taxes and regulations and obama and hoover and fdr who never did anything. i think there's a very serious damage done to the economy and to the world economy and the approaches bush took running up to this and that obama is put on steroids. this is in the middle of many problems to continue to not be ended. and the was a very big problem. to be much more serious about spending and it was in that way before. >> how d
we have a trillion dollar deficit, two-thirds of dodd-frank hasn't been written, etc., etc.. i haven't heard any solutions i think you are right you what to publish online. i think the transparency is great. but we have a real situation. this fiscal cliff especially when added to what's happening. what can be done positively to get in the deadlock where you stand up the taxes. >> yes we have a huge problem. a 5 trillion-dollar debt. >> we keep talking about the fiscal recovery being...
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Nov 21, 2012
11/12
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deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment creates jobs that are disproportionately export-oriented, disproportionately manufacturing oriented, and are 50 percent more likely to be unionized. this is capital we should be fighting for. we need to approach trade in the second among the term with that same degree of confidence going to the point that michael made. i think the world is ready to engage. the german chancellor proposed a trans-atlantic free trade agreement. at degrees to pick up on that the bill fourth. the trans-pacific partnership negotiated out in asia. the chinese followed closely. let's just pr
deficits and the u.s. in japan and an undervalued currency in china. think it's time to recommit with confidence to the three elements of a successful global economy, free trade, flexible exchange rates and a free flow of capital across borders based on open investment policy. i will give credit to the obama administration. they have been very good on investment. president obama was the first democrat in 30 years to put out an open invest a statement? why? because foreign direct investment...
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Nov 28, 2012
11/12
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a growth strategy that's not delivery and a deficit that is rising. it is a government that is failing, a prime minister that is failing, and -- >> calm down, calm down. [shouting] >> he just can't keep his cool when he knows he is losing the argument, mr. speaker,. [shouting] and it's the british people are paying the price for his failure. [shouting] >> i think what we can see is the leadership that is a drowning. >> this scrap the jobs tax, enterprise the enterprise zone. that is funded one many apprenticeships, that is rebuilding our economy, that these 1 million more people in private sector work. we're putting the country back to work. their party reckitt. [shouting] >> thank you, mr. speaker. will the prime minister join me in congratulating the formula one team on winning the world championship for three years in a row? another fine example of british technological innovation. >> i'm delighted to praise and they traded to the formula one team based in his constituency, which sadly be the formula one team based in my constituency. but it is act
a growth strategy that's not delivery and a deficit that is rising. it is a government that is failing, a prime minister that is failing, and -- >> calm down, calm down. [shouting] >> he just can't keep his cool when he knows he is losing the argument, mr. speaker,. [shouting] and it's the british people are paying the price for his failure. [shouting] >> i think what we can see is the leadership that is a drowning. >> this scrap the jobs tax, enterprise the enterprise...
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Nov 25, 2012
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at least the one technology will be a drain on the taxpayer and walk on torturing dollars deficit. ibm back ibm back thank you. i would like to know to which degree to think as the united nation but for the 21st century to political power in the hands of the green lobby. >> well, the u.n. has been very encouraging of the green lobby and the screen job issue is not an issue here in the united state. it is an issue also in europe being encouraged by the u.n., encouraged by the meeting over the summer. but europe is also finding green job aren't all they thought they would be. spain has stopped subsidies for solar power under that doesn't work in sunny spain it's not going to work anywhere. germany has also stopped at subsidies which is more understandable because there's a lot of clubs in germany, even though the economy isn't cloudy at all. the u.n. has had a strong influence on this. >> yes, sir. >> chuck bradford. you are probably not old enough to remember, the jimmy carter gave lots of money, billions of dollars to alternate energy projects. >> i do remember. >> too many of thos
at least the one technology will be a drain on the taxpayer and walk on torturing dollars deficit. ibm back ibm back thank you. i would like to know to which degree to think as the united nation but for the 21st century to political power in the hands of the green lobby. >> well, the u.n. has been very encouraging of the green lobby and the screen job issue is not an issue here in the united state. it is an issue also in europe being encouraged by the u.n., encouraged by the meeting over...
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Nov 25, 2012
11/12
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is a relationship between guns and butter, that even though this is a wealthy nation, we cannot run deficits of a certain sort. we have to move the fighting and that would have consequences for his domestic program. he then johnson in the most liberal administration is very clear on this, that you just could not spend limitlessly and he knew that this war was going to impinge on his domestic agenda and virtually everybody. this is well understood. >> guest: it did. didn't really affect spending in 1965. i do want to maintain a 65 is the worst year of the war. not all that many americans actually died -- died in 1965. so if they say from 23,284,000 after 400,000, which was a terrible year, to 550,000 at the time johnson leaves office in 1969. so even that is not enough to win the war. >> that's fairly clear. what also strikes me as interesting is that we think of the war opposition as starting in a way in which there was no war, if there's no student there's no opposition to the war. but what is also striking in your book is how there was a kind of opposition to the war among the chattering c
is a relationship between guns and butter, that even though this is a wealthy nation, we cannot run deficits of a certain sort. we have to move the fighting and that would have consequences for his domestic program. he then johnson in the most liberal administration is very clear on this, that you just could not spend limitlessly and he knew that this war was going to impinge on his domestic agenda and virtually everybody. this is well understood. >> guest: it did. didn't really affect...
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Nov 26, 2012
11/12
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the tax cut deal, fights over the budget, the debt ceiling, deficit reduction, egypt, libya, and how obama's made the decision and took the actions he to go up but to explain how this is done to set up the 2012 campaign. he had a theory he could make the 2012 race a choice between different approaches to government and everything he did he tried to temper temper -- to other at to a choice. we did not know how things would end up on 2012 but i looked at his governing and elected strategy and it culminated. this is the back story of what happened in the presidential campaign. >> host: david corn. showdown is his most recent book that the national press club >> host: professor, we are here to talk about your book indispensable. i want to say this is a delightful book to read. you deal with very familiar figures. you attack them from some new angles. let's died 10. you have a quote but is attributed to different people also charles de gaulle is most often accredited. what does it mean? >> appropriately it has a dual meaning that people call them sells indispensable and they can't be beca
the tax cut deal, fights over the budget, the debt ceiling, deficit reduction, egypt, libya, and how obama's made the decision and took the actions he to go up but to explain how this is done to set up the 2012 campaign. he had a theory he could make the 2012 race a choice between different approaches to government and everything he did he tried to temper temper -- to other at to a choice. we did not know how things would end up on 2012 but i looked at his governing and elected strategy and it...
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Nov 21, 2012
11/12
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deficits in use, low demand led growth in europe, and japan and an undervalued currency and china. i think it's time to recommit with confidence to the three elements of successful global economy. free trade, flexible exchange rates, and the free flow of capital across borders based on open investment policies. i'll give real credit to the obama administration. they been very good on investment the president obama was the first democrat in 30 years to put out an open investment statement. why? because foreign direct investment in the u.s. create jobs that are disproportionally export oriented, disproportionately manufacturing oriented, and/or 50% more likely to be unionized. this is capital we should be fighting for. i think we need to approach trade in the second obama term with that same degree of confidence going to the point that tran one may be a nothing the world is ready to engage with us. angela merkel proposed attended by free trade agreement in her speech this year. i think we should pick up on that and go for. there's a trans-pacific partnership in negotiated out in asia
deficits in use, low demand led growth in europe, and japan and an undervalued currency and china. i think it's time to recommit with confidence to the three elements of successful global economy. free trade, flexible exchange rates, and the free flow of capital across borders based on open investment policies. i'll give real credit to the obama administration. they been very good on investment the president obama was the first democrat in 30 years to put out an open investment statement. why?...
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Nov 26, 2012
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there's still a training deficit, so they're not all fully trained. there will be, then we some attrition there at the time and will be for the equipment. so there to bring that force to full capacity. >> i think from my perspective as a generator and trainer, doug will be a better witness as to the effect on the ground. i would merely highlight that in the early days, and this is a much afghan driven, we focus on quantity filling the gaps, putting the quantity out into the field. what we have started to do not in earnest is to consolidate that, by which i mean introduce more tactical training, very specifically introduced collective command level training kicks we bring that information headquarters from the field. we put them in package at the command, which placed -- to your initial question which helps to consolidate and improve the anf ability to fill the field. but it doesn't necessary, wouldn't necessary to keep me awake at night but i think it's a very obvious a challenge. it's the next step in developing the ansf. >> sounds so perfect at ever
there's still a training deficit, so they're not all fully trained. there will be, then we some attrition there at the time and will be for the equipment. so there to bring that force to full capacity. >> i think from my perspective as a generator and trainer, doug will be a better witness as to the effect on the ground. i would merely highlight that in the early days, and this is a much afghan driven, we focus on quantity filling the gaps, putting the quantity out into the field. what we...
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Nov 21, 2012
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there still are training deficit. they are not all fully trained and there will be some attrition at the time. so it's tough to bring the force to capacity. >> from my good as a generator and trainer to the national spectrum if he will double us to the effect on the ground. i would merely highlight that in the early days, this is very much afghan treatment, we focused on quantity, filling the gaps, putting quantity out into the field. what we've started to do now in earnest is consolidate that by which i mean introduce my tactical training and specifically introduce collective command level training so we bring the formation from the field, put them to repackage, which is hopes to consolidate and improve the ansf ability. but it wouldn't necessarily keep me awake at night, but it's a very obvious challenge. it's the next step in developing the ansf. >> it all sounds so perfect. everything is just as it should. >> it doesn't keep you awake at night? >> i can run a herb range of operation issues, but in ansf, what is re
there still are training deficit. they are not all fully trained and there will be some attrition at the time. so it's tough to bring the force to capacity. >> from my good as a generator and trainer to the national spectrum if he will double us to the effect on the ground. i would merely highlight that in the early days, this is very much afghan treatment, we focused on quantity, filling the gaps, putting quantity out into the field. what we've started to do now in earnest is consolidate...
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Nov 24, 2012
11/12
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willing to talk about crucial issues that neither of the other two seemed willing to talk about, like deficit reduction. so nixon thought he was making a positive contribution that way. but nixon also disagreed with perot's protectionist and isolationist strains in his platform. and then perot exited the race and jumped back in, and this really disappointed nixon because he thought that perot was treating the presidential race as a game that was subject to his own caprices and his own whims. and so nixon thought that the country could not afford to have such an erratic character as a vice presidential or a presidential nominee. c-span: how did you go about getting random house to buy this book? >> guest: actually, i had worked with harry evans at random house on nixon's last book, "beyond peace." so i had somewhat of an association with him. and i let him know that i had several sample chapters done that mr. safire had read, and i had a simple outline for him, and would he be willing to read it? and he was, and he liked it, and so that's how it came to be c-span: and when did you start that p
willing to talk about crucial issues that neither of the other two seemed willing to talk about, like deficit reduction. so nixon thought he was making a positive contribution that way. but nixon also disagreed with perot's protectionist and isolationist strains in his platform. and then perot exited the race and jumped back in, and this really disappointed nixon because he thought that perot was treating the presidential race as a game that was subject to his own caprices and his own whims....
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Nov 27, 2012
11/12
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not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do that. they failed to end the medicare guaranteed. they failed to slash medicaid, education. in this measure, we succeeded in protecting medicare and social security beneficiaries. we succeeded in protecting seniors in nursing homes, individuals with disabilities, and poor kids who depend on medicaid for their health care. we succeeded in providing room for critical investments in education and america's future. do not get the wrong, mr. speaker. there is much in this plan i do not like. we did not succeed in shutting down s
not to reduce the deficit. if the goal was to reduce the deficit, why refuse to end taxpayer subsidies for the oil companies? if reducing the deficit was the purpose, why refuse to and special breaks for corporate jets and the folks at the very high end of the income scale? that was not the plan. the plan was to use this moment to threaten the economy, to try and slash the social safety net and those critical investments in education, innovation, and our future. guess what? they failed to do...
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Nov 27, 2012
11/12
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we also have an infrastructure deficit and education and skills training deficit. we want to get back on track and address that issue. they will have a paycheck and their families will be able to have food on the table. i think this showed us that we can work in a bipartisan way. i hope that we can do that moving forward now to address the number one issue for every family. jobs. >> why would this be more successful in addressing taxes or entitlement program when the by in group for the -- >> the answer is pretty obvious. hanging over the head of the joint committee is this trigger that is pretty drastic. >> are there things to keep this from happening again? is there a chance that the house caucus once again will say, we are t going to support a debt ceiling increase after 2013. >> i think this sets the tone for what happens in the future and think the trigger kicks in. of course, they will take places in between that and 2013. >> the extension, by the end of the day, would you be head to head? >> we have 80,000 jobs on the line. we started construction about two
we also have an infrastructure deficit and education and skills training deficit. we want to get back on track and address that issue. they will have a paycheck and their families will be able to have food on the table. i think this showed us that we can work in a bipartisan way. i hope that we can do that moving forward now to address the number one issue for every family. jobs. >> why would this be more successful in addressing taxes or entitlement program when the by in group for the...
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Nov 27, 2012
11/12
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social security, not a penny to the deficit. medicare, he wants $250 million over a quarter of a year. that saves for medicare. and medicaid is more essential now than it's ever been and it's a key part of obama care. i don't know what mr. plouffe was talking about. i think he got the republican talking points mixed up with his. >> that was my first impression when i saw the videotape as well. the question comes up. what are you willing to accept in a deal when it comes to programs like medicare and medicaid? >> look, this december should be about revenues. then we can go on to have discussions about the long-term solvency and where medicare fits in and the changes coming by 2014 as we move ahead with obama care. but revenues have to come first. they should come first because we hold all the ace s. they don't have to worry about their pledge because they are voting to reduce taxes for working americans. they just can't do anything about the millionaires and billionaires and the unearned income, which is going to go back to clint
social security, not a penny to the deficit. medicare, he wants $250 million over a quarter of a year. that saves for medicare. and medicaid is more essential now than it's ever been and it's a key part of obama care. i don't know what mr. plouffe was talking about. i think he got the republican talking points mixed up with his. >> that was my first impression when i saw the videotape as well. the question comes up. what are you willing to accept in a deal when it comes to programs like...
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Nov 28, 2012
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social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a plan to buy 75 years of salt with the rigid of solvency. i might add a wrinkle here. every 10 years, a similar commission ought to be created. let's not get into this mess where we have six months to go with social security. you know how important it is for people. people are devastated by the recession and their pension plans lost. it is important to us, our kids come and grandchildren. i think we should create a commission that will report back to congress before a vote by the end of the next calendar year. i want to talk about the two toughest eleme
social security has not added one penny to the deficit. for those who say there is good reason to push it off the table and wait, i would add a note of caution. small changes made today in social security will play out over the long run to buy us solvency for a long time. we should take perhaps all the security off the table but be very honest but we will achieve in the near term. i think we should create the equivalent of eight simpson- bowles region of a simpson- bowles, and come up with a...
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Nov 28, 2012
11/12
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of course, we want to get an outcome and we know the only way we can solve our long-term debt and deficit problem is to fix and sustainable growth rate of our popular entitlement programs. the president has from time to time had an openness to die. not the time to actually do it and i hope we can put all this divisiveness behind us and build confidence in relationships on a bipartisan basis to look at there at the end of the year. >> the president and later read that social security should be off the table. was your reaction to that? >> all the entitlements need to be discussed because they ought to one degree or another on an unsustainable path. medicare is a more immediate danger. we went to see these programs and i understand the dilemma the president and majority leader have let their hard left doesn't want to change anything other. any dollar spent on a commitment made by the federal government on any program at any time out to be there in perpetuity. well, times change. until we make sure these popular entitlement programs at the demographics of the change in america, we can't save
of course, we want to get an outcome and we know the only way we can solve our long-term debt and deficit problem is to fix and sustainable growth rate of our popular entitlement programs. the president has from time to time had an openness to die. not the time to actually do it and i hope we can put all this divisiveness behind us and build confidence in relationships on a bipartisan basis to look at there at the end of the year. >> the president and later read that social security...
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Nov 28, 2012
11/12
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and so as we assume more and more responsibilities for the states with budget deficits in excess of $1 trillion, what we're going to do is find ourselves at a point where we're going to have to make cuts in programs that are our responsibility. so all i would ask to you do is think about whether or not this is truly a responsibility of the federal government and whether or not we ought to be expanding the program -- well-intentioned, does great work. don't discount that. well-deserved. don't discount that. but is it the responsibility of the federal government? i would actually state to the chairman -- and i'd be happy to have a voice vote on this and not force a vote, because i know the outcome, and we shouldn't waste everybody's time to do that. so with that, i would ask for the yeas and nays and a voice vote and vitiate the vote that's scheduled for 7:00 -- 6:00. the presiding officer: is there objection to that request? href i'm not sure i -- mr. levin: i'm not sure i understood what that request was. the presiding officer: the request was for a vote on the leahy amendment now -- t
and so as we assume more and more responsibilities for the states with budget deficits in excess of $1 trillion, what we're going to do is find ourselves at a point where we're going to have to make cuts in programs that are our responsibility. so all i would ask to you do is think about whether or not this is truly a responsibility of the federal government and whether or not we ought to be expanding the program -- well-intentioned, does great work. don't discount that. well-deserved. don't...
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Nov 24, 2012
11/12
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the red bar is the deficit in '09 when president obama took office, and inherited the big deficit from president bush. over the next three years president obama cut the deficit. he cut it by $200 billion just from last year to this year. so the deficit isn't growing. it's shrinking by a lot. seriously the folks at investor's business daily calculated that the deficit is falling faster than at any time since the end of the second world war. the deficit is falling so fast it might not be able to fall any faster without sending us back into recession. when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this chart. the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the chart. the point of the shrinkingest shrinking on the whole chart back to 1950. when somebody stops inevitably nattering about the fiscal cliff and the skyrocketing deficit, they don't know what they're
the red bar is the deficit in '09 when president obama took office, and inherited the big deficit from president bush. over the next three years president obama cut the deficit. he cut it by $200 billion just from last year to this year. so the deficit isn't growing. it's shrinking by a lot. seriously the folks at investor's business daily calculated that the deficit is falling faster than at any time since the end of the second world war. the deficit is falling so fast it might not be able to...
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Nov 27, 2012
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deficit reduction. that's probably a little too much out of revenues over the short term. so let's go back to child tax credit and some middle income tax relief and that, but let's keep a substantial portion of that revenue and we don't have to the talking about stupid across the board cuts and do more targeted cutses in programs that need cutting and bolster those that need bolstering. one thing it, no one's talking about within-third of the deficit is due to high unemployment. we should be talking about investment that will put americans back to work and that takes care of a third of the deficit. if you're talking about a grand bargain, okay, revenues putting people back to work and then we'll talking about cuts. >> that's a profound point. all of a sudden we're supposed to go into this grand bargain of medicare and medicaid because we went through recession and the tax base was low because there was a lot of people unemployed for months on end and we had to invest in the economy to where we've got it
deficit reduction. that's probably a little too much out of revenues over the short term. so let's go back to child tax credit and some middle income tax relief and that, but let's keep a substantial portion of that revenue and we don't have to the talking about stupid across the board cuts and do more targeted cutses in programs that need cutting and bolster those that need bolstering. one thing it, no one's talking about within-third of the deficit is due to high unemployment. we should be...
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Nov 29, 2012
11/12
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we had a significant deficit. but the long term looked possible if we could solve the sshort-term problems. that was easier. in 1990, the parties were competitive, but they were not polarized. in those days, the bad guys were the opposition. today, they are the enemy. there is a world of difference between those two words. yes, we had some distrust. also, we had the ability to work with each other and believe each other and it made life easier at that time. there were other divisions in the congress. the party polarization today tends to make it republicans versus democrats all the way. there were other sub factions in those days. the budgeteers verses the appropriators, etc., that cut across some of those party lines. the most important difference, in my judgment, is that there was less outside pressure upon the negotiators from the radio and tv extremists, lobbyists, core constituencies, users of social media, etc. mostl they did not get 500 e-mails every minute in their office. they did not have people featurin
we had a significant deficit. but the long term looked possible if we could solve the sshort-term problems. that was easier. in 1990, the parties were competitive, but they were not polarized. in those days, the bad guys were the opposition. today, they are the enemy. there is a world of difference between those two words. yes, we had some distrust. also, we had the ability to work with each other and believe each other and it made life easier at that time. there were other divisions in the...
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Nov 22, 2012
11/12
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this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us back into recession. when president obama started, the deficit equalled 10% of the whole economy and now it equals just 7%. so go ahead, boggle your uncle's mind with this chart. the bars below zero represent years when the deficit grew. these bars above zero represent years when the deficit shrunk. we're here right now in the deficit shrunk portion of the
this is the deficit in '09 when president obama took office and inherited the deficit from president bush. over the next three years president obama cut the deficit by $200 billion just from last year to this year, so the deficit isn't growing. it is shrinking by a lot. seriously. the folks at investors business daily calculated the deficit is now falling faster than at any time since the end of the second world war and falling so fast is might not be able to fall any faster without sending us...
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Nov 27, 2012
11/12
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>> with respect to the deficit and debt of the national security liability, we need our senior leadership and the ability to take it on. we have an opportunity to do so, we have a requirement to do so. the requirement and foundation of national power is ultimately economic in terms of global influence. and in terms of supporting the military. we have, i think, members of the house will step up in the coming months. >> how did you look at your surplus of the united states? do they say that we have america under control because of the treasury? >> superposition to the united states is very important. it is very decisive. so there is no intention for us with this economic relationship. >> i'm going to open it up to the floor. we have four microphones around the room. josh grogan is over here. >> thank you very much, and thank you for your time today. i figure we can all agree that the number one issue of the risk of conflict with china is a large part of u.s. strategy encouraging this is to urge china to have a better code of conduct and et etc. and the chinese respond typically as that's fi
>> with respect to the deficit and debt of the national security liability, we need our senior leadership and the ability to take it on. we have an opportunity to do so, we have a requirement to do so. the requirement and foundation of national power is ultimately economic in terms of global influence. and in terms of supporting the military. we have, i think, members of the house will step up in the coming months. >> how did you look at your surplus of the united states? do they...
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Nov 29, 2012
11/12
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us into these deficits. as the chairman just said -- social security has never contributed one penny to these deficits. why to cut the benefits of seniors on social security to pay for the misspending and bad ideas of previous congresses, i do not understand. that is what we are adamant about social security -- use it to buy down a debt created by other things? no. on medicare, if you all just take a close look at the record, a lot of democrats lost their seats because of republicans politicizing this issue. democrats have already come to the table $700 billion in savings in medicare already. we have reformed medicare through be affordable care act, and much of it is doubling to play out. $700 billion -- that is a lot. i have not seen any republicans come forward with a proposal that saves you $700 billion. we did that without having to cut any benefits for beneficiaries who earned as benefits. that was the beauty of the reforms we passed -- we found ways to extract savings, principally from waste and fraud,
us into these deficits. as the chairman just said -- social security has never contributed one penny to these deficits. why to cut the benefits of seniors on social security to pay for the misspending and bad ideas of previous congresses, i do not understand. that is what we are adamant about social security -- use it to buy down a debt created by other things? no. on medicare, if you all just take a close look at the record, a lot of democrats lost their seats because of republicans...
SFGTV: San Francisco Government Television
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Nov 23, 2012
11/12
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SFGTV
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the once needed the deficit because the cash flow will be positive. and we could potentially not sell the debt out to 20467 2047 and could just have it mature to 2045. and that would require the sf travel to continue to fund the stablization fund throughout the term of the debt. but because we are far out. we have another four or five more years to go. we thought that it was safe to use an assumed interest rate of 6 percent so we can see what the scenarios or what scenarios would result. in addition the ssand the e would be funded from the assessments and not the proceeds from the cods. and the way that we have structured this is the city would collect, we would receive and we would fund that service and all of the buckets that we are proposing here and then the tickets sent over to the med. the idea is that it becomes a lock box that is more secure rather than sending it to them and bringing it back to make those payments. >> just a quick question, how does i guess the two things that i do want to ask in the amendment that we see is the stablization
the once needed the deficit because the cash flow will be positive. and we could potentially not sell the debt out to 20467 2047 and could just have it mature to 2045. and that would require the sf travel to continue to fund the stablization fund throughout the term of the debt. but because we are far out. we have another four or five more years to go. we thought that it was safe to use an assumed interest rate of 6 percent so we can see what the scenarios or what scenarios would result. in...
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Nov 28, 2012
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. >> social security does not add one penny to the deficit. it's an important program, critical program. take care of it in the future and do it separate from the debt debate. >> i think most would agree that social security is not responsible for the deficit. clearly shouldn't be on the table for discussion. >> that might be true if lawmakers hadn't already borrowed and spent all the program surplus revenues from years past, which by law congress now has to pay back. adding to the deficit. >> the money came in. congress spent it. look here, we have money to spend. let's go ahead and spend it up. there it went. it's gone. >> social security now needs to start getting the money back again adds to the deficit. just this year alone, the social security trustees' report that "in 2012, the projected difference between social security's dedicated tax income and expenditures is $165 billion." part of the $165 billion added to the deficit, $112 billion of it is a result of the payroll tax cut that president obama pushed through, which by law congress
. >> social security does not add one penny to the deficit. it's an important program, critical program. take care of it in the future and do it separate from the debt debate. >> i think most would agree that social security is not responsible for the deficit. clearly shouldn't be on the table for discussion. >> that might be true if lawmakers hadn't already borrowed and spent all the program surplus revenues from years past, which by law congress now has to pay back. adding...
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Nov 28, 2012
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now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the beginning and one at the end. that continued into the obama administration. jobs come and go. at the moment, we have a significant job deficit. but i think if we look not just at the bush tax cuts in isolation, but the tax policy over the history of the united states and in other countries, we see the lower chart -- lower tax rates do contribute to getting jobs. host: ethan pollack, as did the bush tax cuts work? guest: they did work in the sense that they cost a lot of money and reduced surpluses. 80% of the debt added during the t
now we're facing debt and deficit. on the question of labour supply and investment of savings, it is hard to know what the rates would have been. but in general, tax rates to increase porges station in the labour market, particularly for women. there is every -- very strong evidence that lower tax rates make people save more prepared host: did it create jobs? guest: the tax policy itself does not create jobs. employers create jobs. there was a recession and at the bush administration in the...
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Nov 28, 2012
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what he said was the deficit in the state of american society. i think that's exactly right. you can look at questions of the budget. you can look at questions of infrastructure. immigration policy. but above all, education policy. this is the future. we're not talking about her physical infrastructure. and joel klein is someone who's given his most recent phase of his multi-career when he discovers the best restaurants in brooklyn, is focused on improving a lot of young people in this country. it's supposed to be the other way around. so i'm going to tell you how condi has been dedicated to this issue. a year and a half ago i called her up and said convy, i want you to do some thing for me and with me. she said richard coming to b.c. don't even start. i said okay. i said before the end of this conversation come you're going to agree with going to ask you. and she said no way. i said with the council on foreign relations and all of our time working on things like china and mexico and all the traditional foreign-policy issues. we believe the agenda and all things domestic. but
what he said was the deficit in the state of american society. i think that's exactly right. you can look at questions of the budget. you can look at questions of infrastructure. immigration policy. but above all, education policy. this is the future. we're not talking about her physical infrastructure. and joel klein is someone who's given his most recent phase of his multi-career when he discovers the best restaurants in brooklyn, is focused on improving a lot of young people in this country....
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Nov 27, 2012
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taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of the american people, whether you're talking about deductions or loop hole, however you do it. less money should not -- should be taken from the american people, not more, and christiana roma said raising taxes is contractionary, lowering taxes section pangsry. one more time why do it at all? >> exaccuse me, larry. >> two things. there's a political reason and there's a policy reason. the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternati
taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of...
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Nov 28, 2012
11/12
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he did make one comment about the deficit reduction. it really was calling on congress saying this is up to you. dennis: he was calling on americans to contact their congressmen and invite them to raise taxes on anybody else, but me. cheryl: we have gerri willis here with us to talk about this issue. first, jim, to you. do you feel any better now that he has spoken? >> not really. i did not hear compromise. i kind of have to respectfully disagree. i think the american people are overwhelmingly calling for a compromise. i think the republicans have made the first move to put spending cuts back on the table or on the table. sorry, the republicans on the tax hike in the raising of revenues, i am not hearing the other side. they really do have to go hand in hand. i think the democrats and president are -- we could turn this off. this could be an absolutely self-inflicted wound. dennis: calling on america and extending the bushhtax cuts for another year. do you get a feeling that the americans are clamoring for tax increases for people makin
he did make one comment about the deficit reduction. it really was calling on congress saying this is up to you. dennis: he was calling on americans to contact their congressmen and invite them to raise taxes on anybody else, but me. cheryl: we have gerri willis here with us to talk about this issue. first, jim, to you. do you feel any better now that he has spoken? >> not really. i did not hear compromise. i kind of have to respectfully disagree. i think the american people are...
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Nov 27, 2012
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it's all about the deficit. he's not interested in people's suffering. he's interested in the deficit. that's where his focus is. >> that's exactly right. and he's not interested in the argument that perhaps for a stronger economy we need to care about the middle class and if we keep chopping them off at the knees, there's not going to be anybody to buy the products from the companies they're investing in. >> ari, we know the president when he was in the midst of that negotiation of a grand bargain with speaker boehner, he contemplated the prospect of raising the age at which it would trigger entitlements, particularly for social security. do you think this time around he'll do the same or do you think progressives will hold him to account on that and say no, no way? >> i'm concerned about it, and i think the problem is the red lines on the left side of this debate are not as clear as the ones on the right. you know, everyone spent a lot of time worrying about whether grover norquist is happy. but the fact of the political ecology in washington is there
it's all about the deficit. he's not interested in people's suffering. he's interested in the deficit. that's where his focus is. >> that's exactly right. and he's not interested in the argument that perhaps for a stronger economy we need to care about the middle class and if we keep chopping them off at the knees, there's not going to be anybody to buy the products from the companies they're investing in. >> ari, we know the president when he was in the midst of that negotiation of...
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Nov 28, 2012
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that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of the world acknowledge there was some disparities the ratio of ceo to comp that was crazy and they said we're going to pare that back. >> the compensation is out of whack. we got bailed out. we haven't been criminally prosecuted. the stock market has doubled. stock market has doubled under the obama administration. who we don't like. who we fought valiantly to try to defeat. they would have a lot more credibility if they said that. again, i made the argument that you know, whatever it is, the business of the american people, you know, used to be general motors. it
that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of...
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Nov 27, 2012
11/12
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no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325 -- 327 electoral votes, overwhelming. even though they did everything they could to stop him from being reelected. everyone knows what a failure this congress has been because of what the senate has done and that's nothing. nothing. no job creation. they didn't want that. it would -- if -- if we had had some ability to create jobs, it would have helped obama, it would have helped the country. but, no, that wasn't what they wanted to do. and a terrible day for them last year was the -- several months ago, the supreme cour
no more deficit spending. we'll pay for it by having a surtax on people who make more than $1 million a year. and that surtax is .3%. they stopped it. they stopped it dead in its tracks. every republican voted against that. that is the way that they have legislated this entire year. and by our getting rid of the motion to proceed, that we're turning country upside-down is ridiculous. it's not true. they have legislated with the effort to defeat obama. he won. he won by 2 1/2 million votes, 325...
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Nov 25, 2012
11/12
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. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't ed to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849 billion, includes $206 billion, of higher taxes on dividends. $123 billion, on limiting itemized deductions. $36 billion, higher taxes on capital gains. and, next, the white house want to raise another $584 billion, over ten years... $584 billion, of that, over ten years by reducing the value of certain tax breaks, cutting tax breaks related to charitable contributions and, by the way it may have an impact on the housing industry and that should get everybody a little excited. we have something good going here as the saying goes now, in the housing industry and let's quash that. the rest of the p
. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't ed to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849...
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Nov 29, 2012
11/12
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what the hell do you think a $1 trillion deficit is? once people wake up as to what is really coming, they will savage us and the commission. do not think these interest groups are not whoring it out right now. >> we came from the witness protection program. [laughter] >> it is tough to tell people what is going on when you have a presidential debate and during the course of that, no one asked anybody what they were going to do about the long-term solvency and social security for 75 years. if you do nothing, which is the glorious recommendation of the aarp and other senior groups, that in the year 2031, you will waddle up to the window and get a check for 25% less. who is goofy enough to let that happen? plenty of people. you have never heard a single question, what will you do with a $16 trillion debt? a question i thought was rather significant. >> the word fiscal cliff was never mentioned by candidates or one of the moderators in the debates. every day, we have a countdown. we already elected the guy. it has to be dealt with on its o
what the hell do you think a $1 trillion deficit is? once people wake up as to what is really coming, they will savage us and the commission. do not think these interest groups are not whoring it out right now. >> we came from the witness protection program. [laughter] >> it is tough to tell people what is going on when you have a presidential debate and during the course of that, no one asked anybody what they were going to do about the long-term solvency and social security for 75...